Ownership costs are the costs to purchase and operate a vehicle over a period of time. Understanding these costs may enable you to save money and help you make a wiser decision when choosing your next new car.

Regardless of the “value” claims that you may read in car reviews or hear in advertisements, the economic value of a car is based on how much it will cost to own and operate compared to its purchase price. In a sense, purchase price is “what you pay” and the ownership costs are “what you get.”

Ownership costs can differ greatly. The cost to own and operate two different vehicles with equal purchase prices can differ by thousands. Of course when evaluating ownership cost for used cars and trucks, a vehicle's condition and mileage will greatly impact ownership costs, therefore it's important to compare similar vehicles in similar condition for an accurate picture.

Basic Warranty: The basic warranty covers everything except items that are subject to wear and tear or replacement in the ordinary course of vehicle ownership, such as oil and air filters, wiper blades and brake pads. Tires and batteries are often excluded, but usually have their own warranty provided by the manufacturers of those items. Emissions equipment is required by Federal law to be covered for five years or 50,000 miles.

Drive Train Warranty: In some cases the drive train warranty continues after the basic warranty has expired. This part of the warranty covers most of the parts that make the vehicle move, including the engine, transmission, drive axles and driveshaft. Like the basic warranty, consumable parts such as hoses and belts are not covered. However, most of the internal parts of the engine, such as the pistons and bearings, which are also subject to wear and tear, are covered by the drive train warranty.

Roadside Assistance: Many manufacturers provide a service that will rescue you if your car leaves you stranded, even if it's your fault. Lock yourself our of your car? Run out of gas? Got a flat tire? A call to the manufacturer's toll-free number will result in somebody showing up who can help you out. There is a huge variance in these programs so check ahead of time to see what is covered and what you will have to pay for.

Rust or Corrosion Warranty: Rust or Corrosion Warranty: This warranty covers the vehicle's sheet metal, and protects you from rust and corrosion that are severe enough to cause a hole - surface rust is not covered. However, if you keep your car washed and waxed rust shouldn't be a problem.

CERTAIN SPORT UTILITY VEHICLES AND TRUCKS FAIL TO COMPLY WITH THE REQUIREMENTS OF FEDERAL MOTOR VEHICLE SAFETY STANDARD NO. 110, "TIRE SELECTION AND RIMS." THESE VEHICLES HAVE AN INCOMPLETE TIRE RIM DESIGNATION ON THE CERTIFICATION/TIRE LABEL LOCATED ON THE DRIVER'S DOOR EDGE. IN ADDITION, THE LABEL MAY ALSO BE MISSING THE TIRE LOAD RATING ON THE LABEL. ALTHOUGH THIS INFORMATION IS NOT REQUIRED BY THE STANDARD, IF A TIRE OF A LESSER LOAD RATING IS INSTALLED, THE TIRE MAY NOT BE ABLE TO SUSTAIN THE LOADS ENCOUNTERED DURING USE.

Consequences:

IF A CUSTOMER REPLACES A WHEEL AND ONLY RELIES ON THE RIM SIZE DESIGNATION THAT IS INDICATED ON THE LABEL, A WHEEL THAT IS OF A DIFFERENT RIM CONTOUR DESIGNATION MAY BE INSTALLED. IT MAY BE DIFFICULT OR IMPOSSIBLE TO MOUNT THE TIRE ON A WHEEL WITH THE WRONG CONTOUR. IF THE TIRE IS MOUNTED ON THE WHEEL WITH THE WRONG CONTOUR, THE WHEEL AND TIRE MAY NOT PERFORM AS INTENDED, WHICH COULD INCREASE THE RISK OF A CRASH.

Remedy:

A LABEL THAT WILL CORRECT THE LABEL ORIGINALLY INSTALLED WILL BE MAILED TO CONSUMERS ALONG WITH INSTALLATION INSTRUCTIONS. THE CUSTOMER WILL HAVE THE OPTION FOR DEALERS TO INSTALL THE LABEL. THE RECALL BEGAON ON NOVEMBER 7, 2006. OWNERS SHOULD CONTACT CADILLAC AT 1-866-982-2239, CHEVROLET AT 1-800-630-2438, AND GMC TRUCKS AT 1-866-996-9463.

GM IS RECALLING CERTAIN MODEL YEAR 2006-2009 BUICK, LUCERNE; CADILLAC DTS; HUMMER H2; MODEL YEAR 2008-2009 BUICK ENCLAVE; CADILLAC CTS; MODEL YEAR 2007-2009 CADILLAC ESCALADE, ESCALADE ESV, ESCALADE EXT; CHEVROLET AVALANCHE, SILVERADO, SUBURBAN, TAHOE; GMC ACADIA, SIERRA, YUKON, YUKON XL; SATURN OUTLOOK; AND MODEL YEAR 2009 CHEVROLET TRAVERSE VEHICLES EQUIPPED WITH A HEATED WASHER FLUID SYSTEM (HWFS). A RECALL WAS IMPLEMENTED IN 2008 TO ADD A FUSE TO THE CONTROL CIRCUIT HARNESS TO ADDRESS THE POTENTIAL CONSEQUENCES OF A PRINTED CIRCUIT BOARD (PCB) ELECTRICAL SHORT. HOWEVER, THERE HAVE BEEN NEW REPORTS OF THERMAL INCIDENTS ON HWFS MODULES AFTER THIS IMPROVEMENT WAS INSTALLED. THESE INCIDENTS RESULTED FROM A NEW FAILURE MODE ATTRIBUTED TO THE DEVICE'S THERMAL PROTECTION FEATURE. THE SIGNIFICANCE VARIES FROM MINOR DISTORTION TO CONSIDERABLE MELTING OF THE PLASTIC AROUND THE HWFS FLUID CHAMBER.

Consequences:

IT IS POSSIBLE FOR THE HEATED WASHER MODULE TO IGNITE AND A FIRE MAY OCCUR.

Remedy:

DEALERS WILL PERMANENTLY DISABLE AND REMOVE THE HEATED WASHER FLUID MODULE. AN UPDATED PAGE FOR THE OWNER MANUAL WILL BE PROVIDED AND INSERTED IN THE OWNER MANUAL TO DOCUMENT THAT THE FEATURE HAS BEEN PERMANENTLY DISABLED AND REMOVED FROM THE VEHICLE. THE SAFETY RECALL BEGAN ON JUNE 11, 2010. OWNERS MAY CONTACT BUICK AT 1-866-608-8080, CADILLAC AT 1-866-982-2339, CHEVROLET AT 1-800-630-2438, SATURN AT 1-800-972-8876, GMC AT 1-866-996-9463 AND HUMMER AT 1-800-732-5493 OR AT THE OWNER CENTER AT WWW.GMOWNERCENTER.COM.